Wachtell Lipton Discusses Emerging Issues in Decentralized Governance and the Lessons of Corporate Governance

By Kevin S. Schwartz, David M. Adlerstein, David E. Kirk and I. Andrew Mun June 6, 2022 by renholding

While recent gyrations in cryptoasset markets have focused attention on the future contours of stablecoins, market-making, and impending regulation, another feature of the blockchain landscape is also confronting noteworthy challenges. Specifically, a new breed of business organization has emerged …

Assistant AG for National Security Speaks on Cybersecurity

By Matthew G. Olsen June 3, 2022 by renholding

Good afternoon. I’m Matt Olsen and I am the Assistant Attorney General for National Security at the United States Department of Justice.

I’m very pleased to be here at CyCon. Thank you to Lucas for moderating this panel, to my

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Sullivan & Cromwell Discusses SEC’s Proposed New Cybersecurity Risk-Management Rules for Investment Advisers and Firms

By Whitney Chatterjee, Donald Crawshaw, Eric Diamond, William Farrar and Anthony Lewis March 24, 2022 by renholding

On February 9, 2022, the Securities and Exchange Commission (the “SEC”) voted 3 to 1 (Commissioner Peirce dissenting[1]) to propose cybersecurity risk management rules and amendments for registered investment advisers, registered investment companies and business development companies (the …

Debevoise Discusses New Cyber Incident Reporting for Critical Infrastructure

By Luke Dembosky, Avi Gesser, HJ Brehmer and Stephanie Thomas March 23, 2022 by renholding

On March 15, 2022, President Biden signed the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (the “Act”) into law, requiring critical infrastructure entities to report covered cybersecurity incidents to the Cybersecurity and Infrastructure Security Agency (“CISA”) within 72 …

How FinTech Affects Corporate Takeover Markets

By Joanna Wang and Alan L. Zhang March 18, 2022 by renholding

Investment in financial technology, or FinTech, has increased dramatically over the past decade – from a total value of $9 billion worldwide in 2010 to well above $100 billion in recent years, with a peak of $215 billion in 2019. …

The SEC’s Proposed Cyber 8-K Disclosure

By Joshua Mitts March 17, 2022 by renholding

On March 9, 2022, the SEC proposed rules mandating cybersecurity disclosure, including a new Item 1.05 for Form 8-K, which requires current reporting of cybersecurity incidents deemed by the registrant to be material.

In a 2018 article published in the …

SEC Chairman Gensler Speaks Before the Investor Advisory Committee

By Gary Gensler March 11, 2022 by renholding

It’s good to be back with the Investor Advisory Committee (IAC) again. As is customary, I’d like to note that my views are my own, and I’m not speaking on behalf of the Commission or SEC staff.

I’d like to

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SEC Chairman Gensler Speaks on Proposal for Mandatory Cybersecurity Disclosures

By Gary Gensler March 10, 2022 by renholding

Today [March 9], the Commission is considering a proposal to mandate cybersecurity disclosures by public companies. I am pleased to support this proposal because, if adopted, it would strengthen investors’ ability to evaluate public companies’ cybersecurity practices and incident reporting.

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SEC Commissioner Peirce Dissents on Cybersecurity Proposal

By Hester M. Peirce March 10, 2022 by renholding

Thank you, Renee, Ian, and Jessica. Cybersecurity risk is top of mind for everyone. The Commission’s consideration of this topic—whether for investment advisers, as we did a month ago,[1] or public companies, as we are doing today [March 9]—is, …

Davis Polk Offers Update on SEC’s New Investment-Management Rules and Lawsuits

By Leor Landa, Gregory S. Rowland, Michael S. Hong, Sarah E. Kim and Marc J. Tobak March 8, 2022 by renholding

Rules and regulations

SEC proposes expanded cyber oversight after Gensler signals more on the way

The Securities and Exchange Commission (SEC) proposed new cybersecurity rules for investment advisers and investment companies that would require policies and procedures, annual reviews, reporting …

SEC Chair Gensler Speaks on Cybersecurity and Securities Laws

By Gary Gensler January 26, 2022 by renholding

Thank you. It’s good to be with the Annual Securities Regulation Institute. As is customary, I’d like to note that my remarks are my own, and I’m not speaking on behalf of the Commission or SEC staff.

As some of

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Debevoise & Plimpton Discusses Proposed Cybersecurity Legislation

By Luke Dembosky, Avi Gesser, HJ Brehmer and Stephanie Thomas November 29, 2021 by renholding

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law, authorizing $1.2 trillion for infrastructure spending, including approximately $2 billion for various federal cybersecurity projects. This adds to a large number of cybersecurity bills that …

SEC Commissioner Speaks on the Emerging Challenge of Cybersecurity

By Elad L. Roisman November 2, 2021 by renholding

Good afternoon. Thank you for the kind introduction and the opportunity to speak to the Los Angeles County Bar Association today. Before I begin, let me issue the standard disclaimer that the views I share are my own and do

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The Board of Directors’ Duty of Oversight and Cybersecurity

By Eduardo Gallardo October 28, 2021 by renholding

Over the last several years, cyberattacks, including from foreign state actors, have affected thousands of companies and government agencies. Past corporate victims include Yahoo!, Home Depot, and LinkedIn. And the real world consequences of a cyberattack became vivid to the …

Sullivan & Cromwell Discusses OFAC Ransomware Advisory Update

By Nicole W. Friedlander, Eric J. Kadel, Jr., Anthony J. Lewis, Adam J. Szubin and Matthew J. Browne October 4, 2021 by renholding

On September 21, 2021, the United States Department of the Treasury’s Office of Foreign Assets Control issued an Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments, which provides additional guidance for companies facing ransomware attacks, or processing ransomware …

Sullivan & Cromwell Discusses SEC Case on Misleading Disclosure of Cybersecurity Incident

By Robert Downes, Nicole Friedlander, Anthony Lewis, Steve Peikin and Kamil Shields August 24, 2021 by renholding

On August 16, 2021, the SEC charged Pearson plc with misleading investors and failing to maintain adequate disclosure controls and procedures in connection with a cybersecurity incident. According to the SEC’s order, Pearson learned in March 2019 about an intrusion …

Wachtell Lipton Discusses Important Supreme Court Business Cases Last Term and Next

By John F. Savarese, Kevin S. Schwartz, Sarah K. Eddy, Noah B. Yavitz and Adam L. Goodman July 15, 2021 by renholding

The Supreme Court’s now-concluded October Term 2020 marked a slow return to normalcy following the disruption of the Covid-19 pandemic. The Court released only 56 signed opinions — just a handful more than the prior Term, and well below the …

O’Melveny & Myers Discusses the Legal Challenges of NFTs

By Heather J. Meeker, Laurel Loomis Rimon, Eric Sibbitt and Braddock Stevenson April 14, 2021 by Nisha Chandra

Non-Fungible Tokens, or NFTs, are big news these days. After an NFT for a piece of digital art by the artist Beeple (Mike Winkelmann) sold for $69 million in March 2021―making it the third-most expensive artwork by a living …

King & Spalding Discusses SEC’s Potential Focus During Biden Administration

By Alec Koch, Carmen Lawrence, Andrew Michaelson and Matthew B. Hanson February 12, 2021 by Nisha Chandra

For the next several weeks and months, intense focus will be trained on determining the priorities of the Biden administration. We believe that at the Securities and Exchange Commission (“SEC”), the new administration will ramp up examinations and investigations of …

Wachtell Lipton Discusses White-Collar and Regulatory Enforcement: What Mattered in 2020 and What to Expect in 2021

By John F. Savarese, Ralph M. Levene, Wayne M. Carlin, David B. Anders and Sarah K. Eddy February 10, 2021 by renholding

As we write this memorandum, a new administration is forming in Washington, with new leadership teams being nominated at DOJ, SEC, CFTC and other regulatory and law-enforcement agencies — thus prompting the question of what these changes may portend for …

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